Determine the total daily fish catch at the lakes


Solve the following:

Q: The City of Lake Orion issues licenses to 20 individuals to fish in its two lakes. 

The daily fish catch at Lakes 1 and 2 respectively are given as follows:

Lake 1:  Q1 = 16L1  - 0.4L12 and Lake 2: Q2 = 10L2 - 0.1L22,

where Q is the fish catch, and L is the number of fishermen, at a given lake.

a) Determine the total daily fish catch at the lakes

(i) if equal numbers of fishers fished in each of the two lakes.

(ii) if the 20 fishermen want to maximize their fish catch.

b) Determine how the fishermen should allocate themselves if only 15 of them were licensed to fish the lakes.

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Managerial Economics: Determine the total daily fish catch at the lakes
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